24 April 2018

Commission drops anti-trust probe into European Payments Council

22 February 2013  |  7627 views  |  0 euro

The European Commission has dropped an anti-trust probe into the activities of the bank-backed standards-setting body the European Payments Council.

The EC opened its investigation in September 2011 following complaints that the EPC was abusing its position to craft rules that would block new, non-bank, players from entering the online payments market.

In a speech in France, EU Competition Commissioner Joaquin Almunia said that the probe was initiated to determine whether the banks co-operated together to limit competition from non-bank players in setting conditions that only banks could fill.

"Meanwhile, the EPC decided to abandon its work in this area," Almunia told the conference. "This decision will allow us to close our investigation because alternative systems, non-bank could then remain in or enter the market."

Instead, the Commission has switched its focus to "look at the barriers to the completion of the internal market for payments by credit card, Internet and mobile telephony".

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

EPC sets out Sepa m-payments guidelines

EPC sets out Sepa m-payments guidelines

22 November 2011  |  8441 views  |  0 comments
"There is no 'Sepa governance issue'" - EPC hits out at Brussel lobbyists

"There is no 'Sepa governance issue'" - EPC hits out at Brussel lobbyists

03 November 2011  |  8622 views  |  0 comments
EC launches antitrust investigation into EPC and e-payments market

EC launches antitrust investigation into EPC and e-payments market

26 September 2011  |  8167 views  |  0 comments
EPC looks to cut cash costs through ATM standardisation

EPC looks to cut cash costs through ATM standardisation

14 July 2011  |  7543 views  |  1 comments
EPC sets out Sepa mobile payments guidelines

EPC sets out Sepa mobile payments guidelines

05 May 2011  |  13305 views  |  0 comments
EPC warns Brussels to keep its nose out of payments business

EPC warns Brussels to keep its nose out of payments business

14 March 2011  |  12946 views  |  1 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://wup.digitalVisit http://response.ncr.com

Top topics

Most viewed Most shared
Top tier banks pass first transactions on trade finance blockchainTop tier banks pass first transactions on...
13882 views comments | 20 tweets | 28 linkedin
TransferWise becomes first non-bank to open settlement account with BofE RTGSTransferWise becomes first non-bank to ope...
11095 views comments | 18 tweets | 32 linkedin
'Fake data' will make banks vulnerable - Accenture'Fake data' will make banks vulnerable - A...
8961 views comments | 26 tweets | 36 linkedin
Major card schemes zero in on single 'buy' button for online commerceMajor card schemes zero in on single 'buy'...
8295 views comments | 20 tweets | 36 linkedin
hands typing furiouslyUX Design Guide: 7 Steps to Make Digital B...
8189 views 0 | 36 tweets | 24 linkedin

Featured job

to $120K base, 200K ote, benefits
New York City, NY - USA

Find your next job